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Finance director jailed for stealing £1.4m from employer

Monday 13th September, 2021

A finance director who defrauded his employer out of £1.4 million to support an extravagant lifestyle has been jailed for six years.

He originally started working for recruitment firm Jambo Ltd based in Cornwall as an accounts assistant in 2007. During his employment with Jambo he received two promotions, the first to the position of financial controller and the second to director.

In a position of trust, he diverted payments into his own bank account that should have gone to other firms for almost nine years. The money was spent on expensive cars and clothes.

The fraud came to light when another employee queried a financial irregularity over a small payment.

Judge Carr said, "had the query not been investigated, Retallick would still be defrauding the firm"

The court heard the losses to the company meant that some staff had been made redundant and others had not been given pay rises. The BBC reported.

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